They will take effect immediately and are expected to last for a year unless trading partners “demonstrate a constructive approach towards co-operation,” Mr Medvedev said.

No thanks: Russia has banned pork and beef products from Australia.Source:Supplied

Australia exported more than $400 million worth of produce to Russia including meat, wool, alcohol and horticulture last year. Meat and live animals account for around $310 million while dairy exports make up $78 million.

Lamb exports make up a small amount of the total exports but the amount has been steadily increasing over the past decade, according to Meat and Livestock Australia.

The organisation said beef exports to the country had already been banned and global demand in key markets such as Japan, Korea, the US and China is strong.

The move has been slammed by Prime Minister Tony Abbott who branded Putin a “bully” and opposition leader Bill Shorten who said it made him “sick in the guts”.

“They don’t have the ... moral authority to do that in the light of what’s happened,” Mr Shorten said.

Russian President Vladimir Putin’s move has outraged political leaders in Australia. Pic: AFP.Source:AFP

However one Australian producer is already taking a stand.

The Australian Lamb Group announced it would suspend all lamb and mutton exports to Russia in a bid to send a message to President Putin about the recovery operation of MH17.

Managing Director John Verrall said the decision will have repercussions for their business and they haven’t made it lightly “but I feel strongly that business can lend support and weight to the work of our government in a very effective and practical manner.”

“By suspending all exports of our products to Russia we are sending a very strong message to Mr Putin and hope that such measures will encourage him to do the right and decent thing and provide all assistance and support that he can to international authorities to secure the crash site and ensure that the bodies on the site are treated with dignity and care, and repatriated back to their homelands,” said.

Also potentially no longer making its way from our shores to Russia’s: uranium.

Prime Minister Tony Abbott has put Moscow on notice, warning that Australia will consider banning uranium sales in the event of a Russian incursion into Ukraine.

Mr Abbott said today Australia would not accept that any Russian troop movement across the border could have a humanitarian purpose.

“Everything’s on the table,” he said when asked about the prospect of extending sanctions to include uranium.